Mahi and Rajat were in partnership sharing profits and losses

11 :- Mahi and Rajat were in partnership sharing profits and losses in the ratio of 4 : 3. They admitted Kripa as a new partner. Kripa brought Rs 60,000 as her share of goodwill premium which was entirely credited to Mahi’s Capital Account. On the date of admission, goodwill of the firm was valued at Rs 4,20,000.
Calculate the new profit-sharing ratio of Mahi, Rajat, and Kripa.

Solution:- Let the share of Kripa in profits by x
Kripa will bring the amount of premium of goodwill equal to his share
Kripa’s share of goodwill = Goodwill x Kripa’s share
60,000 = 4,20,000 x Kripa’s share
60,000/4,20,000 = Kripa’s share
1/7 = Kripa’s share
As Kripa’s premium of goodwill was entirely taken over by Mahi , Only Mahi have sacrificed 1/7th of her share to Kripa

Thus, New profit sharing ratio of Mahi, Rajat And Kripa will be
Mahi’s new share = 4/7 – 1/7 = 3/7
Rajat’s new share = 3/7 – 0 = 3/7
Kripa’s share = 1/7
Therefore, New profit sharing ratio of Mahi, Rajat and Kripa is 3:3:1